Ca obtained $60.9M in cannabis taxation income for 1st quarter of 2018

Ca obtained $60.9M in cannabis taxation income for 1st quarter of 2018

California started the year by releasing legal sales of leisure cannabis on cbd oil January 1. Yet again the first quarter is over, it is about time hawaii provides a sense of just exactly how its leisure cannabis market has fared thus far.

Based on the Department of Tax and Fee management, Ca made $60.9 million in income tax income from marijuana product sales when you look at the quarter that is first of this present year.

The agency stated that the income collected by the state includes cultivation, excise and product sales taxes, yet it doesn’t add tax that is local income that was gathered by its different counties or urban centers.

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The breakdown of the cannabis taxes built-up within the quarter that is first as follows:

California’s cannabis excise income tax generated $32 million in income.

The cultivation tax generated $1.6 million.

The product sales taxation produced $27.3 million in revenue.

Medicinal cannabis is exempt from product sales income tax in the event that buyer holds a legitimate Healthcare Marijuana Identification card. Читать далее